(Reuters) – Commonwealth Bank of Australia became the latest company to join a global push to reduce emissions and said it would phase out its exposure to thermal coal or power plants by 2030.

The company announced a new environmental and social policy in its annual report released on Wednesday, emphasizing its commitment to bring emissions to net zero, in line with global goals set out in the 2015 landmark Paris climate agreement.

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The bank joins a host of other Australian companies adopting similar policies to combat climate change, and reduce the country’s reliance on coal-generated power.

Late last month, the world’s biggest miner BHP Group said it would invest $400 million over five years to reduce emissions, while insurers Suncorp Group and QBE Insurance Group have also set targets to eliminate their exposure...